Cramer: GE Upgrade 'Very Powerful'
There is “a big turn going on” at General Electric, Cramer said during Friday’s Stop Trading!.
Oppenheimer and Bernstein upgrade GE to “outperform,” with Cramer calling the latter’s report “very powerful.” The stock looks “very expensive” on 2009 earnings, he said, “but not on 2010.”
In the retail space, Urban Outfitters is both “underrated” and “undervalued,” Cramer said. He predicted the company, which also operates Anthropologie and Free People, would generate “the single-best year-over-year” numbers. Fourth-quarter sales in 2008 were good, but 2009 should be even better.
Cramer reiterated his buy call on Skyworks Solutions , pointing to the company’s increased outlook for the current quarter.
Lastly, there’s a price war going on in the insurance industry, Cramer said, and “Travelers is the only one with the balance sheet to be able to survive” it. Travelers is “the best run with a fantastic portfolio,” thanks to the leadership of Chairman and CEO Jay Fishman.
Fishman is “the greatest investor no one ever talks about,” Cramer said.
A previous version of this story misstated Public Spaces, rather than Free People, as an Urban Outfitters store.
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